West Point Bank Mortgage Rates, Fees & Info

Radcliff, KY

LEI: 549300PD2JKG2Z95GK78

Tax ID: 61-0378920

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    West Point Bank is a smaller bank specializing in Home Purchase loans. West Point Bank has a high proportion of conventional loans. Their top markets by origination volume include: Elizabethtown, Louisville, Campbellsville, Clarksville, and Central City among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    West Point Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    285

    Origination Dollar Volume (All Markets)

    $45,435,000

    Employee count

    50

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 232 $38,110,000 $164,267 $0 0.00%
    LOUISVILLE, KY (FHA|USDA|VA) 21 $3,455,000 $164,524 $0 0.00%
    Outside of Metro Areas 26 $3,140,000 $120,769 $0 0.00%
    Campbellsville, KY (FHA|USDA|VA) 3 $345,000 $115,000 $0 0.00%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Central City, KY (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    West Point Bank's top markets include Elizabethtown, Louisville, Campbellsville, Clarksville, and Central City among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 285 $45,435,000 $159,421 $0 0.00%

    For 2021, West Point Bank's most frequently originated type of loan was Conventional, with 285 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 208 $36,110,000 $173,606 $0 0.00%
    Refi 53 $8,205,000 $154,811 $0 0.00%
    Home Improvement 15 $635,000 $42,333 $0 0.00%
    Other 9 $485,000 $53,889 $0 0.00%

    For 2021, West Point Bank's most frequently cited loan purpose was Home Purchase, with 208 originations. The 2nd most popular reason was Refi, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 285 $45,435,000 $159,421 $0 0.00%

    For 2021, West Point Bank's most frequently cited loan duration was Other, with 285 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 110 $15,790,000 $143,545 $0 0.00%
    $100,000 or less 107 $6,435,000 $60,140 $0 0.00%
    $200k-400k 50 $13,780,000 $275,600 $0 0.00%
    $400k-600k 13 $6,025,000 $463,462 $0 0.00%
    $600k-1MM 5 $3,405,000 $681,000 $0 0.00%

    2021 saw West Point Bank place emphasis on $100k-200k loans with 110 originations, totaling $15,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 59 $6,745,000 $114,322 $0 0.00%
    $100k-150k 42 $7,560,000 $180,000 $0 0.00%
    $50k-75k 33 $4,445,000 $134,697 $0 0.00%
    $75k-100k 24 $2,300,000 $95,833 $0 0.00%
    $150k-250k 21 $3,665,000 $174,524 $0 0.00%
    $250k+ 13 $3,905,000 $300,385 $0 0.00%

    West Point Bank lent most frequently to those with incomes in the $50k or less range, with 59 originations. The second most popular income band? $100k-150k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 285 $45,435,000 $159,421 $0 0.00%

    West Point Bank lent most frequently to those with DTI ratios of Exempt%, with 285 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 181 $27,295,000 $150,801 $0 0.00%
    Not applicable 86 $14,840,000 $172,558 $0 0.00%
    Asian 9 $2,425,000 $269,444 $0 0.00%
    Black 6 $440,000 $73,333 $0 0.00%
    Not provided 3 $435,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.57%

    West Point Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.32%

    West Point Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 285 $45,435,000 $159,421

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    285 $45,435,000 $159,421

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    West Point Bank 114 North Walnut Street Upton, KY 42784 Full Service B&M $26,931
    West Point Bank 436 East Main Street Glendale, KY 42740 Full Service B&M $11,887
    West Point Bank 502 West Dixie Avenue Elizabethtown, KY 42701 Full Service B&M $261,619
    West Point Bank 600 W. Lincoln Trail Blvd. Radcliff, KY 40160 Full Service B&M $26,008
    West Point Bank 601 Main Street West Point, KY 40177 Full Service B&M $12,749

    For 2021, West Point Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,623
    Net interest income $10,462
    Total noninterest income $749
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $171
    Trading account gains and fees $0
    Additional Noninterest Income $578
    Pre-tax net operating income $4,836
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,722
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,722
    Minority interest net income $0
    Net income $3,722
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,722

    West Point Bank's gross interest income from loans was $11,623,000.
    West Point Bank's net interest income from loans was $10,462,000.
    West Point Bank's fee based income from loans was $171,000.
    West Point Bank's net income from loans was $3,722,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,161
    Provision for credit losses $229
    Total noninterest expense $6,146
    Salaries and employee benefits $3,461
    Premises and equipment expense $674
    Additional noninterest expense $2,011
    Applicable income taxes $1,114
    Net charge-offs $3
    Cash dividends $575

    West Point Bank's interest expense for loans was $1,161,000.
    West Point Bank's payroll and benefits expense were $3,461,000.
    West Point Bank's property, plant and equipment expenses $674,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $304,002
    Deposits held in domestic offices $304,002
    Deposits by Individuals, partnerships, and corporations $269,768
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $32,492
    Deposits by Commercial banks and other depository institutions in U.S. $1,742
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $166,495
    Demand deposits $151,311
    Nontransaction accounts $137,507
    Money market deposit accounts (MMDAs) $33,446
    Other savings deposits (excluding MMDAs) $77,086
    Total time deposits $26,975
    Total time and savings deposits $152,691
    Noninterest-bearing deposits $66,704
    Interest-bearing deposits $237,298
    Retail deposits $270,212
    IRAs and Keogh plan accounts $3,614
    Brokered deposits $27,538
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $341,539
    Cash & Balances due from depository institutions $6,021
    Interest-bearing balances $2,707
    Total securities $108,878
    Federal funds sold & reverse repurchase $0
    Net loans and leases $212,045
    Loan and leases loss allowance $1,108
    Trading account assets $0
    Bank premises and fixed assets $3,959
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $10,636

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $341,539
    Total Liabilities $306,309
    Total deposits $304,002
    Interest-bearing deposits $237,298
    Deposits held in domestic offices $304,002
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $1,777
    Subordinated debt $0
    All other liabilities $530

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $212,045
    Loan and leases loss allowance $1,108
    Total loans and leases (domestic) $213,153
    All real estate loans $205,383
    Real estate loans in domestic offices $205,383
    Construction and development loans $56,341
    Residential 1-4 family construction $25,646
    Other construction, all land development and other land $30,695
    Loans secured by nonfarm nonresidential properties $37,962
    Nonfarm nonresidential secured by owner-occupied properties $28,492
    Commercial real estate & other non-farm, non-residential $9,470
    Multifamily residential real estate $2,750
    1-4 family residential loans $93,045
    Farmland loans $15,285
    Loans held in foreign offices $0
    Farm loans $545
    Commercial and industrial loans $2,738
    To non-U.S. addressees $0
    Loans to individuals $4,340
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,173
    Other loans to individuals $2,167
    All other loans & leases $147
    Loans to foreign governments and official institutions $0
    Other loans $20
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,738
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    West Point Bank had $212,045,000 of loans outstanding in 2021. $205,383,000 of loans were in real estate loans. $56,341,000 of loans were in development loans. $2,750,000 of loans were in multifamily mortgage loans. $93,045,000 of loans were in 1-4 family mortgage loans. $545,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,173,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 77 $12,950 $168,182
    Nonfarm, nonresidential loans - <$100k 22 $986 $44,818
    Nonfarm, nonresidential loans - $100-250k 36 $4,874 $135,389
    Nonfarm, nonresidential loans - $250k-1MM 19 $7,090 $373,158
    Commercial & Industrial, US addressed loans - <$1MM 61 $2,738 $44,885
    Commercial & Industrial, US addressed loans - <$100k 53 $1,390 $26,226
    Commercial & Industrial, US addressed loans - $100-250k 7 $785 $112,143
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $563 $563,000
    Farmland loans - <$1MM 35 $4,810 $137,429
    Farmland loans - <$100k 13 $413 $31,769
    Farmland loans - $100-250k 12 $1,309 $109,083
    Farmland loans - $250k-1MM 10 $3,088 $308,800
    Agriculture operations loans - <$1MM 15 $545 $36,333
    Agriculture operations loans - <$100k 13 $194 $14,923
    Agriculture operations loans - $100-250k 1 $122 $122,000
    Agriculture operations loans - $250k-1MM 1 $229 $229,000